KUALA LUMPUR (June 10): Hektar Real Estate Investment Trust (REIT) chief executive officer (CEO) Datuk Hisham Othman, 60, is retiring from his position and will be succeeded by non-executive director Johari Shukri Jamil.

In a filing with Bursa Malaysia, the retail REIT, which owns six neighbourhood shopping centres throughout Peninsular Malaysia, said Johari Shukri will take over as the CEO from June 11.

Hektar's annual report showed that Johari Shukri, 50, was appointed to the group's board on Feb 22 this year. He is also the CEO of Integrated Marine Works Sdn Bhd, and a board member of BSL Corp Bhd.

Hisham, meanwhile, was appointed as CEO on May 1, 2016 and was DRB-Hicom Bhd's head of automotive from August 2014 before he took the helm of Hektar.

Hektar's unit closed 1.5 sen or 2.46% lower at 59.5 sen on Friday (June 10), valuing the REIT at RM280.4 million.